Ordinance 1989-0985 - Laserfiche WebLink

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of the Constitution or statutes of the State, and .hall not constitute nor give rise to a pecuniary liability of the City or a charge aiainst its general credit or tax1nq powers; (d) The Corporation will agree, pursuant to the terms of the Aqreements, to pay the insurance and taxes due and payable with respect to the Project; (e) The Corporation will aqree, pursuant to the terms of the Agreements, to maintain the Project in accordance with the Act. (E) The Corporation is obliqated, pursuant to the terms of the Aqreements, to make payments thereunder at such times, and in .uch amounts, al are sufficient to pay the debt service on the Bonds. (r) The reserve fund will be tunded in an amount which s necessary for the retirement of the Bondi and the maintenance of the Project. (h) The bonds to have been illued al the 1988 Series have never b.en i..ued. Section 4. To detray the COlt of the Project, to make an initial deposit into the Debt lelerve Fund created br the Indenture and to finance certain COlt I incurred in i..u ng the Bonds, there is hereby authorized and created a ,erie. of revenue bonds desi~ated "City ot Louilville, Colorado Revenue Bonds (Bou der Memorial HOlpital Project) Series 1989,11 in the axgreqate principal amount of '18,000,000, .. fully :eqistere bonds 1n the denominations as described in the Indentures, dated the date of their initial issuance and delivery, and beariny interest as described in the Indenture, commencing in the On t Pricing Mode, aa detined in the Indenture, with an initial Adjustment nate not more than 385 ~ays from the date of initial i.suanee and delivery of the Bondi. The Bonds Ihall be payable, Ihall be subject to redemption and to optional and mandatorI tender for purchale prio: to maturity, shall be in ,ubltant ally the form provided in the Indenture, and Ihall mature on March 1, 2022. section 5. The form., terms and provi,ion, of the Aqreementl, the Indentur., the Tax Regulatory Aqreement and the Bond Purchase Agreement, be, and they hereby are, approved and the City shall enter into the Agreements, the Indenture and the Bond Purchase ~greem.nt, in the forms oE -4-